The Principality of Monaco is a microstate, situated in the southern part of Europe. Despite its compact size, Monaco stands as one of the world’s foremost financial centres, many successful businessmen are looking to reside and work in this prestigious jurisdiction.
The foundation of the local economy, considered stable and developed, is the service sector. A majority of Monaco’s workforce is engaged in key industries, including tourism, gambling (casinos), construction, the financial sector, pharmaceutical and electronic industries, and trade. Foreign investment is welcomed in the country, yet, for a non-resident to have the opportunity to register a company here, approval from the authorities (Direction de l’Expansion Economique) is imperative, along with agreement on the type of activity.
